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  • lewis_whokeyser lewis_whokeyser Nov 26, 2012 8:26 AM Flag

    OT: Carbon Tax

    From an IBD Editorial:
    calls for carbon taxes and cap-and-trade policies are in favor among governments.

    A carbon tax, which is inexplicably supported by some on the right, is not a cost-free solution. In fact, it's not a solution at all. Consider Australia 's carbon-tax regime. Greg Sheridan, foreign editor of the Australian, convincingly wrote some months back that his country's carbon tax is "environmentally inconsequential, economically costly, administratively nightmarish."

    Meanwhile, the carbon tax in Canada's British Columbia is "an expensive, ineffective and unpopular failure," according to B.C.'s daily Internet independent The Tyee. And it's the same in Great Britain.

    Peter C. Glover, writing in the Canada Free Press, said earlier this year that the British carbon-tax scheme is "an abject failure." "It has actually had zero impact on Britain 's carbon footprint which, during the tenure of green taxes, actually saw emissions increase by 20%."

    Fact is, the poor — those the World Bank says it's in the business to help — are hurt more by carbon taxes than the middle class and rich because they spend a higher portion of their income on energy. They're also harmed more than the middle and upper classes for the same reason when carbon-trading schemes are implemented.

    California just unilaterally instituted a cap-and-trade law which will further cripple the state's economy.

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    • Lewis, you're somewhat off on BC's carbon tax failing. I live in BC, so I'm one of the ones paying it, and I see that it works. The legislation that forms it is written that the tax has to be revenue-neutral, meaning any increase in taxes imposed by it must be offset by reductions in other taxes. And yes they did reduce the provincial income tax the year that the carbon tax was implemented, so this carbon tax did not increase our net taxes. Meanwhile, in the 4 years since the carbon tax was implemented, BC's greenhouse gas emissions have declined 15.1%-16.4% compared to the rest of Canada. And BC's GDP growth modestly outpaced the rest of Canada too, which implies that it did not adversely affect the economy. How can you call this a failure? It's not popular because most people don't understand that it is revenue-neutral.

    • Hey, Lewis, this is Headwind357. Good to see some regulars after the "election." You hit the nail on the head. Just about all the socialist-oriented programs will hurt the poor - directly or indirectly by hobbling the economy. I'd much rather have a job than a handout - but the 47% want the handout. Sad, really.

      • 1 Reply to candlesarehotter
      • California Governor Brown confidently predicted that the state would gain a billion dollars from the sale of carbon permits. The first of three auctions brought in only $250 million and the remaining two are expected to bring in consideably less.

        His prediction ranks right up there with the President's prediction of a million Chevy Volts on the road this year.

        Why do politicians think they are smarter then businessmen when the evidence is overwhelmingly to the contrary?

    • SACRAMENTO -- The sale of California's first pollution permits will generate less money than expected for the state budget.

      Gov. Jerry Brown and state lawmakers projected that the nation's largest carbon marketplace would raise $1 billion during the fiscal year that ends in June, with about half the proceeds going to close the state's budget deficit.

      But the first sale last week raised only $289 million, with most earmarked for utilities and ratepayers. That leaves the state about $56 million.

      Two more auctions are planned in February and May. But the nonpartisan Legislative Analyst's Office estimates that the state may gain only about $140 million if the trend holds.

      Department of Finance spokesman H.D. Palmer told The Sacramento Bee on Wednesday that the governor's January budget could reflect the lower projections.

    • SACRAMENTO -- The sale of California's first pollution permits will generate less money than expected for the state budget.

      Gov. Jerry Brown and state lawmakers projected that the nation's largest carbon marketplace would raise $1 billion during the fiscal year that ends in June, with about half the proceeds going to close the state's budget deficit.

      But the first sale last week raised only $289 million, with most earmarked for utilities and ratepayers. That leaves the state about $56 million.

      Two more auctions are planned in February and May. But the nonpartisan Legislative Analyst's Office estimates that the state may gain only about $140 million if the trend holds.

      Department of Finance spokesman H.D. Palmer told The Sacramento Bee on Wednesday that the governor's January budget could reflect the lower projections.

 
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